Nifty Price action under election Year cues.

NSE:NIFTY   Nifty 50 Index
Nifty next up move will come when it close above 22150 on monthly chart.
Empirically, in General election year, Nifty has a tendency to bottom out in Feb-March, followed by minimum 12-16% rally towards General election outcome in each of seven instances over past three decades.
As per chart nifty may be bottom out near levels 21120-20850 in upcoming days.
So, buy on dip approach may work for the investors.

Next target for Nifty after bottom out would be 24700 in May-June 2024.
Trade active:
Nifty break 21600 low 21578
enjoy the gain


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